Iâve been fascinated for years by how some companies can do well by expanding offshore; sadly, most donât succeed. Itâs also interesting that becoming a national player seems to be an evolutionary process for a company before moving into the international space â a feat that only or two companies are able to achieve. I watched this with Japan in the 1960s and â70s. Sony made the transition from national to international brand quickly, while Japanâs car companies struggled to break out to international customers.Â
I worked for IBM long after it had become a multinational company. I learned that the companyâs success was tied to a strategy of establishing entities as local businesses in countries they wanted to expand to. This process allowed them to function far more successfully than competitors who just tried to open up sales offices. Up until now, that IBM process was my gold standard; one that Lenovo, arguably the most successful Chinese company in terms of multinational acceptance, emulated.Â